Kingsview Wealth Management LLC Has $1.31 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Kingsview Wealth Management LLC cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 32.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,413 shares of the company’s stock after selling 5,363 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Datadog were worth $1,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DDOG. SouthState Corp bought a new stake in Datadog during the second quarter worth about $26,000. Meeder Asset Management Inc. boosted its position in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. bought a new position in Datadog in the second quarter valued at approximately $37,000. Versant Capital Management Inc raised its position in Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Rosenblatt Securities boosted their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Needham & Company LLC lowered their target price on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. BNP Paribas initiated coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. This represents a 27.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Obstler sold 33,334 shares of Datadog stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is currently owned by insiders.

Datadog Stock Down 1.4 %

Shares of NASDAQ DDOG opened at $154.39 on Wednesday. The company has a market capitalization of $52.45 billion, a PE ratio of 291.31, a P/E/G ratio of 20.27 and a beta of 1.10. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $157.48. The firm has a fifty day simple moving average of $125.97 and a 200 day simple moving average of $120.59.

Datadog Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.